Common use of Landlord’s Defaults Clause in Contracts

Landlord’s Defaults. If Landlord fails to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease, and if such failure shall continue for more than thirty (30) days after written notice thereof from Tenant to Landlord or such shorter period as is reasonably practicable to cure the same with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"), unless such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, cannot reasonably be performed, done or removed, as the case may be, within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such thirty (30) day period shall be extended by such additional time period as may be reasonably required for Landlord to cure or correct such failure and such failure will not constitute a Landlord Default hereunder unless Landlord fails to continue to diligently prosecute such cure or correction to completion, then Tenant shall have all of its remedies available at law and in equity; however, in no event shall Landlord be liable under any of the provisions of this Lease for any consequential, speculative, punitive or other indirect damages of any kind or nature. Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereunder. Tenant agrees to simultaneously give Landlord's Mortgagee a copy of any notice of a Landlord Default that Tenant serves upon Landlord. Landlord's Mortgagee shall have the right to cure a Landlord Default within the period provided to Landlord, plus the additional time provided under Section 16.3 above. In the event Tenant notifies Landlord, in writing, of a failure on the part of Landlord to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant shall be permitted to take all reasonable measures to remediate such situation to the extent necessary to remove the emergency nature thereof and the reasonable cost therefor shall be reimbursed by Landlord to Tenant within thirty (30) days of Landlord's receipt of evidence of Tenant's payment therefor, accompanied by complete copies of all contracts and invoices for such work.

Appears in 1 contract

Samples: Lease Agreement (Eagle Test Systems, Inc.)

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Landlord’s Defaults. If Landlord fails Notwithstanding anything to observe or perform any covenant, agreement or obligation to be performed by Landlord under the contrary in this Lease, and if before exercising any right to terminate this Lease because of Landlord's or a Landlord Party's default (including any such failure termination right expressly provided for, or implied, under applicable law) or to claim a partial or total eviction (actual or constructive) because of Landlord's or a Landlord Party's alleged default, or to exercise any other rights or remedies against Landlord including, without limitation, enforcement of the provisions of SECTION 8.3, Tenant shall continue for more than thirty (30) give Landlord Notice of such alleged default. Landlord shall then have 30 days after written notice thereof from Tenant to Landlord or such shorter period as is reasonably practicable to cure the same with respect to emergency matters which such alleged default. If Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"), unless such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, cannot reasonably be performedcure an alleged default within 30 days, done or removed, as the case may be, within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such thirty (30) day period shall be extended by for such additional time further period as may be Landlord shall reasonably required for require (except that, with respect to an alleged default by Landlord to cure or correct such failure and such failure will not constitute a Landlord Default hereunder unless Landlord fails to continue to diligently prosecute such cure or correction to completion, then Tenant shall have all of its remedies available at law and in equity; however, in no event shall Landlord be liable under any of the provisions of this Lease for any consequentialSECTION 8.3, speculative, punitive or other indirect damages of any kind or nature. Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereunder. Tenant agrees to simultaneously give Landlord's Mortgagee a copy of any notice of a Landlord Default that Tenant serves upon Landlord. Landlord's Mortgagee shall have the no right to further extend such cure a period), provided that during such extended period Landlord Default within the period provided shall endeavor to Landlord, plus the additional time provided under Section 16.3 abovecure such alleged default diligently and with reasonable continuity. In the event that Tenant notifies fails or refuses to enforce its rights and remedies hereunder (including, without limitation, its right to enforce Landlord's 52 Additional Covenants) then, without notice to Tenant, a Leasehold Mortgagee may enforce such rights and remedies, which may include actions at law or in writingequity, of a failure on including the part of right to specific performance and injunctive relief. Tenant hereby appoints each Leasehold Mortgagee as Tenant's attorney-in-fact, coupled with an interest, to enforce such rights and remedies. This paragraph shall not apply to any Landlord to observe or perform any covenant, agreement or obligation to be performed by Landlord under default for which this Lease establishes specific requirements regarding Notice and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails opportunity to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant shall be permitted to take all reasonable measures to remediate such situation to the extent necessary to remove the emergency nature thereof and the reasonable cost therefor shall be reimbursed by Landlord to Tenant within thirty (30) days of Landlord's receipt of evidence of Tenant's payment therefor, accompanied by complete copies of all contracts and invoices for such work.

Appears in 1 contract

Samples: Prime Lease (A /P I Deposit Corp)

Landlord’s Defaults. 30. If Landlord fails to observe or perform defaults in any covenant, agreement or obligation to be performed by Landlord of its obligations under this Lease, Tenant shall give Landlord written notice of such default and if such failure Landlord shall continue for more than have thirty (30) days after written following receipt of such notice thereof from Tenant to Landlord or such shorter period as is reasonably practicable to cure the same with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default")such default or, unless if such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, default cannot reasonably be performed, done or removed, as the case may be, cured within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such a thirty (30) day period period, Landlord shall be extended by commence the cure of such additional time period as may be reasonably required for Landlord default within thirty (30) days following receipt of such notice and thereafter shall proceed diligently to cure or correct such failure and such failure will not constitute a Landlord Default hereunder unless Landlord fails to continue to diligently prosecute such cure or correction to completion, then alleged default. Tenant shall send a duplicate notice to any holder of a mortgage or other superior lien on the Building or this Lease of which Tenant has been notified in writing, and any such holder shall have all of its remedies available at law and in equity; howeverthe right to cure such alleged default within the same time period. Notwithstanding anything to the contrary contained herein, in no event shall Landlord be liable under any of the provisions of this Lease to Tenant for any consequential, speculativeindirect, special, exemplary or punitive damages. Consents and Approvals: 31. Except as otherwise provided in Article 10 with respect to Minor Alterations and Article 24 with respect to certain assignments and/or subleases, if Tenant shall request Landlord’s consent or other indirect damages of any kind or nature. approval and Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereunder. Tenant agrees fail or refuse to simultaneously give Landlord's Mortgagee a copy of any notice of a Landlord Default that Tenant serves upon Landlord. Landlord's Mortgagee shall have the right to cure a Landlord Default within the period provided to Landlord, plus the additional time provided under Section 16.3 above. In the event Tenant notifies Landlord, in writing, of a failure on the part of Landlord to observe such consent or perform any covenant, agreement or obligation to be performed by Landlord under this Lease and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said noticeapproval, Tenant shall not be permitted entitled to take all reasonable measures to remediate any damages for any withholding by Landlord of its consent or approval, it being agreed that Tenant’s sole remedy shall an action for a declaratory judgment, injunction or specific performance and that such situation to the extent necessary to remove the emergency nature thereof and the reasonable cost therefor remedy shall be reimbursed by available only in those cases where Landlord has expressly agreed in writing not to Tenant within thirty (30) days unreasonably withhold its consent or approval or where as a matter of Landlord's receipt of evidence of Tenant's payment therefor, accompanied by complete copies of all contracts and invoices for such worklaw Landlord may not unreasonably withhold its consent or approval.

Appears in 1 contract

Samples: Office/Loft Lease (Etsy Inc)

Landlord’s Defaults. If Landlord fails to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease, and if such failure shall continue for more than have a period of thirty (30) days after from the date of written notice thereof from Tenant to Landlord or such shorter period as is reasonably practicable within which to cure the same any default under this Lease; provided, however, that with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"), unless such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, any default that cannot reasonably be performed, done or removed, as the case may be, cured within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such thirty (30) day period days, the default shall not be extended by such additional time period as may deemed to be reasonably required for uncured if Landlord commences to cure or correct such failure within thirty (30) days from Tenant’s notice and such failure will not constitute a Landlord Default hereunder unless Landlord fails continues to continue to prosecute diligently prosecute such cure or correction to completion, then Tenant shall have all of its remedies available at law and in equity; however, in no event shall Landlord be liable under any of the provisions of this Lease for any consequential, speculative, punitive or other indirect damages of any kind or nature. Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereundercuring thereof. Tenant agrees to simultaneously give Landlord's Mortgagee any Mortgagee, by Registered Mail, a copy of any notice of a default served upon the Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of such Mortgagee. Tenant further agrees that if Landlord Default that Tenant serves upon Landlord. Landlord's shall have failed to cure such default within the time provided for in this Lease, then the Mortgagee shall have the right to cure a Landlord Default within the period provided to Landlord, plus the an additional time provided under Section 16.3 above. In the event Tenant notifies Landlord, in writing, of a failure on the part of Landlord to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant shall be permitted to take all reasonable measures to remediate such situation to the extent necessary to remove the emergency nature thereof and the reasonable cost therefor shall be reimbursed by Landlord to Tenant within thirty (30) days (provided that Tenant notifies Mortgagee concurrently with Tenant’s notice to Landlord at the beginning of Landlord's receipt ’s thirty (30) day period; otherwise Mortgagee shall have sixty (60) days from the date on which it is noticed) within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary to cure such default shall be granted if within such applicable period Mortgagee has commenced pursuing the remedies necessary to cure such default (including commencement of evidence foreclosure proceedings, if necessary to effect such cure) and thereafter diligently and in good faith pursues such remedies to completion (in which event this Lease shall not be terminated while such remedies are being so diligently pursued); provided, however, if such default causes a material interference with Tenant’s use of Tenant's payment thereforand enjoyment of the Premises, accompanied by complete copies of all contracts and invoices such additional time for such workMortgagee shall be limited to an additional thirty (30) days.

Appears in 1 contract

Samples: Lease Agreement (Synopsys Inc)

Landlord’s Defaults. If Landlord fails to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease, and if such failure shall continue for more than have a period of thirty (30) days after from the date of written notice thereof from Tenant to Landlord or such shorter period as is reasonably practicable within which to cure the same any default under this Lease; provided, however, that with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"), unless such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, any default that cannot reasonably be performed, done or removed, as the case may be, cured within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such thirty (30) day period days, the default shall not be extended by such additional time period as may deemed to be reasonably required for uncured if Landlord commences to cure or correct such failure within thirty (30) days from Tenant’s notice and such failure will not constitute a Landlord Default hereunder unless Landlord fails continues to continue to prosecute diligently prosecute such cure or correction to completion, then Tenant shall have all of its remedies available at law and in equity; however, in no event shall Landlord be liable under any of the provisions of this Lease for any consequential, speculative, punitive or other indirect damages of any kind or nature. Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereundercuring thereof. Tenant agrees to simultaneously give Landlord's Mortgagee any Mortgagee, by Registered Mail, a copy of any notice of a default served upon the Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of such Mortgagee. Tenant further agrees that if Landlord Default that Tenant serves upon Landlord. Landlord's shall have failed to cure such default within the time provided for in this Lease, then the Mortgagee shall have the right to cure a Landlord Default within the period provided to Landlord, plus the an additional time provided under Section 16.3 above. In the event Tenant notifies Landlord, in writing, of a failure on the part of Landlord to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant shall be permitted to take all reasonable measures to remediate such situation to the extent necessary to remove the emergency nature thereof and the reasonable cost therefor shall be reimbursed by Landlord to Tenant within thirty (30) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary to cure such default shall be granted if within such applicable period Mortgagee has commenced pursuing the remedies necessary to cure such default (including commencement of Landlord's receipt of evidence of Tenant's payment thereforforeclosure proceedings, accompanied by complete copies of all contracts if necessary to effect such cure) and invoices for thereafter diligently and in good faith pursues such workremedies to completion (in which event this Lease shall not be terminated while such remedies are being so diligently pursued).

Appears in 1 contract

Samples: Sublease Agreement (PubMatic, Inc.)

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Landlord’s Defaults. If Landlord fails Except as otherwise specifically set forth in this Lease to observe or perform the contrary, in the event of any covenant, agreement or obligation to be performed default by Landlord under this Lease, Tenant’s sole and exclusive remedies shall be an action for actual loss and damages; and/or if permitted by applicable law, an action for specific performance and/or injunctive relief; and/or, only in connection with a monetary default of Landlord, as provided for below, the right of deduction or set-off against Rental due Landlord, Tenant hereby waiving any claim for indirect, special or consequential damages except as specifically set forth in this Lease to the contrary. Prior to any such failure action or remedy, Tenant will give Landlord and any holder of Landlord’s Mortgage (as hereinafter defined) written notice specifying such default with particularity (provided, however, Tenant shall continue for more than only be obligated to send a notice to such holder if Tenant has previously been notified in writing of the identity and address of such holder by either Landlord or such holder). Landlord shall then have ten (10) days in which to cure any monetary default, and thirty (30) days after written notice thereof from Tenant to Landlord or such shorter period as is reasonably practicable to cure any non-monetary default. However, in the same with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"), unless event any such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, non-monetary default cannot reasonably with reasonable diligence be performed, done or removed, as the case may be, cured within such thirty (30) day period, in which event, if then Landlord shall have commenced curing or correcting the same within such additional reasonable period and shall diligently prosecute of time as is necessary to cure such default so long as Landlord commences such cure or correction, within such thirty (30) day period and shall be extended by diligently prosecute in good faith such additional time period as may be reasonably required for cure to completion. In such event Landlord agrees to keep Tenant apprised of its diligent efforts at lease once every two weeks (unless such default involves a hazardous condition requiring immediate cure, in which cure Landlord must commence its efforts to cure or correct such failure default immediately and prosecute such failure will not constitute a Landlord Default hereunder unless cure as quickly as is possible using its best diligent efforts). Unless and until Landlord fails to continue cure any default after such notice and during the applicable cure period, Tenant shall not have any remedy or cause of action by reason thereof, except as follows: in the event that a non-monetary default of Landlord in question poses an imminent risk or threat of damage or injury to diligently prosecute persons or property, or results in circumstances reasonably considered to constitute an emergency, then, in any of such cure or correction to completionevents, then such default shall be deemed material and Tenant shall have all of the right, at its remedies available sole election, to immediately (or at law and in equity; however, in no event shall Landlord be liable under any time thereafter) undertake such corrective and/or remedial work as is reasonably necessary to xxxxx the circumstances of the provisions emergency in question or eliminate the risk or threat of this Lease for any consequentialinjury or harm to persons or property. In such event, speculative, punitive or other indirect damages of any kind or nature. Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereunder. Tenant agrees to simultaneously give Landlord's Mortgagee a copy of any notice of a Landlord Default that reimburse Tenant serves upon Landlord. Landlord's Mortgagee shall have the right to cure a Landlord Default within the period provided to Landlordfor all reasonably necessary costs and expenses incurred by Tenant in connection with such remedial or corrective work, plus the additional time provided under Section 16.3 above. In the event Tenant notifies Landlord, in writing, of a failure on the part of Landlord to observe or perform any covenant, agreement or obligation such reimbursement to be performed by Landlord under this Lease and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant shall be permitted to take all reasonable measures to remediate such situation to the extent necessary to remove the emergency nature thereof and the reasonable cost therefor shall be reimbursed by Landlord to Tenant made within thirty (30) days after receipt of an invoice therefor from Tenant. In the event that such reimbursement, or any other sum due or owing by Landlord to Tenant under this Lease, is not paid within thirty (30) days after the due date for such payment, then such amount shall bear interest at a rate equal to the Reference Rate plus two percent (2%), and, in addition to any and all other remedies which Tenant may have or pursue under this Lease and/or Georgia law, Tenant shall have the right, at its sole election either to pay its Rentals thereafter due in an aggregate amount equal to the amount claimed to be due by Landlord to Tenant into an escrow with an independent third-party or into the registry of a court, or to off-set the amount claimed to be due from Landlord to Tenant against the Rentals owed by Tenant to Landlord hereunder until such amount has been credited in full. Tenant agrees to accept the cure by any holder of a Landlord’s Mortgage of any and all of Landlord's receipt ’s defaults hereunder should any such holder elect, in its sole discretion, to undertake the cure of evidence of Tenant's payment thereforsuch defaults, accompanied by complete copies of all contracts and invoices for but Tenant acknowledges that no such workholder is under any obligation to do so.

Appears in 1 contract

Samples: Lease Agreement (Cryolife Inc)

Landlord’s Defaults. If Landlord fails Notwithstanding any other provision of this Lease to observe or perform the contrary, in the event of any covenant, agreement or obligation to be performed default by Landlord under this Lease, Tenant will give Landlord written notice specifying such default with particularity, and if Landlord shall then have thirty (30) days in which to cure any such failure default; provided, however, in the event any such default cannot with reasonable diligence be cured within such thirty-day period, Landlord shall continue for more than have such additional reasonable period of time as is necessary to cure such default so long as Landlord commences such cure within such thirty-day period and shall diligently prosecute in good faith such cure to completion. Unless and until Landlord fails to so cure any default after such notice, Tenant shall not have any remedy or cause of action by reason thereof. If Landlord fails to cure such default prior to the expiration of such cure period, then Tenant may give an additional notice to Landlord and upon the expiration of ten (10) days after such second notice without such default having been cured, Tenant may cure such default, all on behalf of and at the expense of Landlord, and do all necessary work and make all necessary payments in connection therewith. Landlord shall pay Tenant the reasonable amount actually incurred by Tenant, together with interest thereon at the Default Rate from the date of payment until re-payment, within thirty (30) days after written notice thereof from Tenant that such cost has been incurred together with supporting invoices evidencing the amount of such cost. If Landlord fails to Landlord or such shorter period as is reasonably practicable to cure pay the same with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"), unless such failure requires work to be performed, acts to be done, or conditions to be removed which, amount requested by their nature, cannot reasonably be performed, done or removed, as the case may be, Tenant within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such thirty (30) day period shall be extended by such additional time period as may be reasonably required for Landlord to cure or correct such failure and such failure will not constitute a Landlord Default hereunder unless Landlord fails to continue to diligently prosecute such cure or correction to completionperiod, then Tenant shall have all may withhold up to twenty-five percent (25%) of its remedies available at law each payment of Base Rental thereafter due to Landlord to satisfy the payment of such indebtedness (with such offset to be applied first to accrued and in equityunpaid interest); provided, however, in no event that Tenant shall be entitled to increase such withholding up to one hundred percent (100%) of any and all such payments of Base Rental to Landlord be liable under any at such time that the unpaid and unapplied amount of such indebtedness (including accrued, unpaid interest) equals or exceeds seventy-five percent (75%) of the provisions remaining unpaid Base Rental obligations payable for the balance of the then current term of this Lease for any consequentialLease. Notwithstanding the foregoing, speculative, punitive or other indirect damages of any kind or nature. in the event Landlord shall be liable for notifies Tenant that Landlord disputes Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereunder. Tenant agrees to simultaneously give Landlord's Mortgagee a copy of any notice allegation of a Landlord Default that Tenant serves upon default under this Lease (such notice to be given prior to the expiration of the cure period afforded Landlord. Landlord's Mortgagee , as recited above, with respect to such alleged default), then Landlord shall have the right to cure institute an arbitration proceeding in accordance with the provisions of EXHIBIT "F" hereto within ten (10) days after the effective date of such dispute notice, in such case, Tenant shall not exercise the foregoing "self-help" rights (except in an emergency), nor shall Landlord be liable for any expenses incurred by Tenant in connection therewith, nor shall Tenant make any offset against Base Rental, until (in each case) such time as all such arbitration proceedings are completed. All reasonable attorneys' fees and arbitration costs in any such proceeding which are incurred by the prevailing party shall be paid by the other party. If the holder of a Landlord Default within the period provided properly recorded first mortgage or deed to Landlord, plus the additional time provided under Section 16.3 above. In the event Tenant notifies Landlordsecure debt has notified Tenant, in writing, that it is the holder of a failure such lien on the part Premises and shall so request, then Tenant shall provide such holder with a duplicate copy of any notice sent to Landlord to observe or perform any covenant, agreement or obligation to be performed by Landlord under this Lease covering a default hereunder and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant holder shall be permitted to take all reasonable measures to remediate granted sixty (60) days after receipt thereof (as such situation to the extent time period may be extended beyond such 60-day period as reasonably necessary to remove correct or remedy such default, so long as such holder commences such corrective action within such 60-day period and thereafter diligently pursues the emergency nature thereof and the reasonable cost therefor same to completion), to correct or remedy such default (provided, however, that such holder shall be reimbursed by Landlord provide written notice to Tenant within thirty on or before the thirty-first (3031st) days of Landlord's day after receipt of evidence of Tenant's payment therefor, accompanied by complete copies notice of all contracts and invoices for default as to whether such workholder intends to cure said default).

Appears in 1 contract

Samples: Office Lease (Earthlink Inc)

Landlord’s Defaults. If Landlord shall be in default of this Lease if Landlord fails to observe or perform any covenant, agreement duty or obligation to be performed imposed upon it by Landlord under this Lease, Lease and if such failure shall continue the default continues for more than a period of thirty (30) days after written notice thereof is given to Landlord by Tenant, or for an unreasonable period of time if thirty (30) days is not sufficient time to repair, remedy or correct such default. Landlord agrees that if it shall at any time fail to perform any of the obligations of it as required in Section 3 of this Lease for a period of thirty (30) days following written notice from Tenant of the failure to Landlord provide such service (or in the event a cure of the specified default reasonably takes longer than thirty (30) days to cure, then for such shorter longer period as is reasonably practicable necessary to cure the same with respect to emergency matters which Landlord shall address as promptly as is reasonably possible (each a "Landlord Default"effectuate such cure), unless such failure requires work to be performed, acts to be done, or conditions to be removed which, by their nature, cannot reasonably be performed, done or removed, as the case may be, within such period, in which event, if Landlord shall have commenced curing or correcting the same within such period and shall diligently prosecute such cure or correction, such thirty (30) day period shall be extended by such additional time period as may be reasonably required for Landlord to cure or correct such failure and such failure will not constitute a Landlord Default hereunder unless Landlord fails to continue to diligently prosecute such cure or correction to completion, then Tenant may, but shall have all of its remedies available at law and in equity; howevernot be obligated to, in no event shall without waiving, or releasing Landlord be liable from any obligation under any of the provisions of this Lease for any consequentialLease, speculative, punitive or other indirect damages of any kind or nature. Landlord shall be liable for Tenant's reasonable attorneys' fees incurred in successfully enforcing Landlord's obligations hereunder. Tenant agrees to simultaneously give Landlord's Mortgagee a copy of any notice of a Landlord Default that Tenant serves upon Landlord. Landlord's Mortgagee shall have the right to cure a Landlord Default within the period provided to Landlord, plus the additional time provided under Section 16.3 above. In the event Tenant notifies Landlord, in writing, of a failure on the part of Landlord to observe make such payment or perform any covenant, agreement or obligation to be performed by Landlord under this Lease and such failure has resulted, in Tenant's reasonable opinion, in an emergency situation either: (i) potentially and immediately interfering with Tenant's operation of its business from the Premises; or (ii) potentially putting Tenant's property or personnel at immediate risk of being injured, and Landlord fails to respond, analyze and propose a plan for curing such failure (including the time required to complete such cure) within one (1) business day of receiving said notice, Tenant shall be permitted to take all reasonable measures to remediate such situation other act to the extent necessary to remove Tenant reasonably may deem desirable. All sums so paid by Tenant and all expenses in connection therewith, together with interest thereon at the emergency nature thereof and rate of ten percent (10%) per annum from the reasonable cost therefor date of payment shall be reimbursed by paid from Landlord to Tenant within thirty (30) days of from Tenant invoicing Landlord for the same. In the alternative, at Landlord's receipt option, Landlord may provide to Tenant a credit against other sums owing under this Lease by a writing from Landlord to Tenant providing the same. Notwithstanding anything contained in this Lease, Tenant will not have the right to offset amounts Tenant claims are owing to it from the amount of evidence of Tenantrent owed from Tenant to Landlord hereunder or in any other manner arising from Landlord's payment therefor, accompanied by complete copies of all contracts and invoices for such workalleged default under this Lease.

Appears in 1 contract

Samples: Office Lease (Education Lending Group Inc)

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